![]() ![]() Universal Music Group’s ad-supported streaming revenues were up 5% in the second quarter and 2% in the first half of the year. Spotify also noted “softer pricing due to the macroeconomic environment” that offset double-digit gains in impressions. That implies advertising revenue from podcasts, which was up 30% year-over-year, contributed to most of the growth. At Spotify, music advertising revenue grew in the “mid-single digits” year-over-year, lower than the 12% (15% at constant currency) growth in total ad-supported revenue. The advertising market continues to have challenges. And according to Deezer CEO Jeronimo Folgueira, the increase had “pretty much no impact on churn” - the number of subscribers who leave a service over a period - and “clearly demonstrated that music is highly undervalued, and that platforms like us have more pricing power than initially anticipated.” That said, Folgueira stated that Deezer’s guidance for full-year revenue growth does not include another price increase later in the year. Apple Music and Amazon Music both raised their prices last year as well. Deezer raised its price from 9.99 euros to 10.99 euros in January 2022 - a major factor in the company’s direct subscriber average revenue per user climbing 4.9% year over year. Spotify is relatively late to the game, though. After all, the price had gone unchanged since the service launched in the United States in 2011, although the family plan price increased by $2 per month in 2021. Spotify raised its individual subscription plan in the U.S. Spotify Study on 'Super Listeners': Small Numbers of Fans Drive Big Streaming Numbers Deezer lost 100,000 subscribers from June 30, 2022, to June 30, 2023, and Pandora ended the quarter with 6.2 million subscribers, down 100,000 from 6.3 million a year earlier. 2 earnings call and said its strong quarterly results “reflect increasing demand trends for streaming music globally.” Not all subscription services made gains, though. Universal Music Group attributed subscription growth in its recorded music segment - 13% in the second quarter and 11.6% in the first half of the year - to “broad-based growth in subscribers across all major global platform partners.” Reservoir Media CEO Golnar Khosrowshahi cited Spotify’s “higher than expected subscriber numbers” in the company’s Aug. ![]() Spotify’s MAUs increased 27% year-over-year to 551 million compared to guidance of 530 million. Spotify’s premium subscribers grew 17% year-over-year to 220 million, beating its guidance of 217 million. Spotify beat expectations for both monthly active users (MAUs) and subscribers, “aided by improved retention and marketing efficiencies,” the company explained in its July 25 shareholder presentation. The subscription market is holding up well. 24) and Anghami (no date set).īased on earnings by Universal Music Group, Spotify, Deezer, Believe and Reservoir Media, here are three takeaways from reported results through Aug 4. More information will be gleaned in the coming weeks from earnings results from Warner Music Group (Aug. What Will TikTok’s New Music Streaming Service Mean For the Industry? ![]()
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